Reserve Bank Governor WARNS Trump | Unemployment Numbers DECLARED | New BEE Rules being ATTACKED!

Added: 2026-05-13

[00:00:00]You know, ladies and gentlemen, it's amazing. If you read the news as often as I do, what you start to notice is that certain news articles all seem to come out the same time. They seem to create a overall narrative, if you will.

[00:00:13]They seem to show us exactly what's going on in the country. Now, someone like me, and if you plugged yourself into the news as long as I have, you'd probably also pick up on the trends. But I tell you who doesn't pick up on the trends. Well, that would be the government.

[00:00:30]But before we get on to the main video of today, can I yet again remind you if you haven't already, please subscribe to the channel. It really does help. And if you want to support the work that I do here, you're welcome to buy me a coffee.

[00:00:40]The link is in the description box below. So, let's get on to the first news article. And would you know it, it relates to BE procurement rules because the business leader South Africa CEO Busussy has warned that new proposed BBBE procurement rules could weaken investor confidence in South Africa. Current BBBE rules incentivize companies to procure from suppliers with at least a 51% black ownership. Now, the proposed rule changes would further incentivize procurement from 100% blackowned suppliers. Now, Busussy says that companies that have spent years building compliant supply chains could suddenly lose their BBBE status if their suppliers are not 100% blackowned. and she argues that this creates uncertainty for manufacturing especially original equipment manufacturers with complex supply chains. Nissen is started as an example of declining manufacturer confidence in South Africa. The company's already sold its plant to Cherry the Chinese company and is now investing $45 million US in Egypt as their new manufacturing hub.

[00:02:01]Manufacturing is described as a key sector supporting around 1.5 million jobs in South Africa and contributing more than 12% to the economy. So one has to ask the question why is the government so intent on destroying the manufacturing industry. Now, separate draft procurement regulations would create set aids for 100% blackowned businesses. Tenders under 20 million rand would be reserved exclusively for 100% blackowned suppliers. For tenders between 20 million and 100 million rand, suppliers would need to procure 40% of inputs from 51% blackowned suppliers or 30% from 100% blackowned suppliers. You could already see how much of a nightmare this is going to be from a compliance perspective. For tenders above 100 million rand, a 25% of subcontracting would need to go to 100% blackowned businesses.

[00:03:09]Now, Busussy, the head of business South Africa, says the tertiary has not yet produced an economic impact analysis showing the cost or the likely effectiveness of the rules. Now, the reason that that's so important is usually if you want to take these rules on review to the court, one of the requirements is that the court will ask for an economic impact assessments. And if they don't have one, it's usually pretty easy to struck down the rule or the law. In this instance, you can see that's exactly what's going to happen.

[00:03:38]The law is going to be challenged.

[00:03:40]Now busy has warned that in some specialized sectors there may not be enough qualified suppliers which is exactly where these wolves are going to start causing economic harm. Now her warning is that the projects could either fail to proceed, be delayed or become more expensive because competition is restricted in those areas and that the likelihood is that many of the 100% blackowned businesses will no doubt bec linked. In other words, this will just be another form of compliance bureaucracy that ultimately enriches the ANC Kada. Now, it's amazing that this news came out on the exact same day that South Africa's official unemployment rate was declared. And would you know it, it rose from 31.4% in quarter 4, 2025 to 32.7% in quarter 1, 2026.

[00:04:38]Now, the total number of unemployed people rose by 301,000 individuals to 8.1 million. Total employment fell by 345,000 people in the quarter. The total number of employed people fell to 16.8 million people, meaning that 1/3 of all the individuals in South Africa are unemployed.

[00:05:05]The expanded unemployment rate rose to 43.7%.

[00:05:11]With discouraged job seekers increasing by 178,000 to 3.9 million people. Those are people that just don't even bother looking for a job cuz they just think they're never going to find one. Now the official unemployment rate has been above 30% in South Africa for more than 5 years. All during Sopa's reign. South Africa's unemployment rate remains amongst the highest in the world. Many instances it is the highest in the world. Now seven out of 10 measured industries lost jobs in Q1 2026.

[00:05:48]Community and social services recorded the biggest employment loss down by 206,000 jobs. Construction lost around 110,000 jobs. Transport lost 30,000 jobs.

[00:06:01]Private households lost around 38,000 jobs. They will be obviously domestic workers. Manufacturing added 38,000 jobs. Mining added 32,000 jobs and agriculture added 10,000 jobs. Now, Bloomberg reported that the worsening job picture in South Africa was linked to the broader economic weakness, higher fuel and fertilizer prices after the Iranian war and pressure ahead of the local elections. But it is hard not to notice how the government keeps putting in place raced obsessed rules that ultimately they are warned time and time again that they would damage the economy. On the same day that people are warning the government of this whilst the government is trying to again do forms of social engineering the unemployment rate is rising because as I've said it's now risen from 31.4% 4% to 32.7%.

[00:06:58]With the expanded unemployment rate rising from 42.1 to 43.7, this is not good news for South Africa, but it shows full well on display that it is the ANC's ideology that is destroying the future of the republic.

[00:07:16]Now the DA claims that race quotas are hurting job seekers in Nos Mandela Bay where Astac. The DA protested in Port Elizabeth against what it calls unfair race quotas in the bay specifically in relation to municipal hiring. Now the party says that colored, white, and Indian job seekers are all being excluded from employment opportunities.

[00:07:41]But we've just listened to all the enterprises that need to be 100% blackowned. Now, the DA's male candidates Rif claims that the municipality is using the Eastern Cape Provincial Demographics instead of Nelson Mandela Bay's own demographics.

[00:07:58]And this directly relates to the Employment Equity Amendment Act where they had these demographics and representation figures that they just randomly chucked on a page and said, "Here, follow these."

[00:08:09]Now according to a census from 2022 the figures cited were that Nosandella Bay was 62.7% black 19.2% colored 15.7% white and 1.2% Asian. Now the Eastern Capes provincial figures site that black individuals are 85.7% coloreds are 7.6% 5.6% are white and 0.5% are Asian. And the DA argues that this difference unfairly disadvantages local coloreds, whites and Indian applicants. Now the municipality denies the allegation and says that its recruitment practices comply with the constitution and as I said the employment equity act and labor regulations, specifically those quotas that the raceobsessed ANC put in place.

[00:09:03]But you can see full well how these stupid arbitrary rules and quotas at the ANC pit in place are well because they don't actually represent the local environment. So what can we actually say? Well, what we can say is that whilst the ANC appears to be completely race obsessed, unemployment will continue to get worse. Now you know where else we've seen this? Well, a 158-year-old diamond mine in Kimbley is being pit through a formal sales process. Now, joint provincial liquidators are looking for domestic and international investors. The mine includes surface and underground mining operations, tailing resources, and processing plants. Now, this all comes following a shaft collapse in February, which killed five miners. The mine was already facing financial pressure before the collapse and around a thousand jobs could be affected. Now, repairs to the damaged shaft are estimated to take between 10 and 18 months and would require major capital investment. Liquidators say they want to preserve the mine if possible, but the global diamond market is under significant pressure. Now, it's important to understand what's going on here. This is a diamond mine that's been in South Africa for some time. Following this collapse, they've just decided, well, they could invest money to repair it, but they're deciding they don't want to. They're effectively using the collapse of the shaft as their excuse to exit the country. Now, that's not good news by any stretch of the imagination.

[00:10:43]Now, another industry where South Africa is significantly suffering will be in our railways. Now, many individuals say that the ANC's bid to centralize means that the ANC is pushing towards communism. But in some instances, some political parties suggest that the ANC is the most radical privatizing political party in history. And if you look at many of South Africa's industries, well, you could make that argument because a UAE rail company plans to spend 2.8 8 billion rand in South Africa specifically in terms of its rails. Now this UAE based Africa rail co plans to raise around 117 million US around 2.8 billion to buy locomotives and wagons for South Africa.

[00:11:35]The company was one of 11 successful bidders who gained access to operate trains on South Africa's freight rail network. Now, this is all part of the government's broader plan to bring private companies into logistics and improve freight efficiency. Now, Transnet's bottlenecks are described as major constraints to economic growth over the past decade.

[00:12:00]This UAE based Africa Rail Co. also plans to operate on a route to South Africa's northern border with Mosmb beek.

[00:12:10]It also plans to use the Faleng to Durban route which carries much of South Africa's container cargo. Now some of the funding will support regional operations moving copper from the Democratic Republic of Congo to Mosmbique Maput port. But what we can clearly see here is the ANC's push to privatize rail. Now in another news article, the Reserve Bank governor has warned the United States that its debt is becoming a growing global concern. He said that developed countries are now showing warning signs traditionally associated with poorer countries. He said that US debt to GDP is above 120% the highest since World War II. Now, the Reserve Bank governor warned that many governments lack the political will to reduce the debt. He said that new spending pressures are building, including defense and pensions for aging populations. And he warned that rising sovereign debt, diverse government resources towards interest payments, meaning that the US can't use its own funds to expand its own markets. He said that emerging markets have learned from past mistakes and are reforming while some developed countries are tolerating unsustainable debt and attacks on central bank independence. The South African comparison is that South Africa now spends around 1.2 billion rand a day servicing debt crowding out spending on productive areas like education and health care. So South Africa knows full well what it looks like to be overinded and spending all your money on interest and what that ultimately means to a country. Now in a final news article Ramapora says that he will not resign after the constitutional court ruling on palapala. The constitutional court ruled that the national assembly acted unlawfully when it voted in December 2022 to dismiss the section 89 independent review report. Ramaporza says that there is nothing in the ruling that compels him to resign. He says that he has stolen no money, committed no crime, and he will cooperate with all investigations. He says that he disagrees with the panel's findings and will relaunch a legal review on the report. The ruling revives the section 89 process and reopens the possibility of an impeachment inquiry. So, that's the news of today. Do let me know what you think in the comments section below.

[00:14:41]I've tried to avoid the Ramapora topic because to be frank, my last few videos on Ramapora have well been watched by no one cuz no one cares. Anyway, that's the news of today. Let me know what you think in the comments. Until next time.

[00:14:53]Bye.